Property taxes for the average Stoughton homeowner are going up by around $130 this year.
Much of that increase is connected to rising home values. The average home has risen from $190,000 in 2016 to $226,400 this year.
This year, the average home increased by 5% – about the same as the Dane County average – to $226,400 from $215,000 last year, according to data compiled by the city’s contracted assessor, Accurate Appraisal.
That has offset a nominal drop in tax rates of 2% for the city, which declined 11 requested staffing increases by department heads, and 1.1% for the Stoughton Area School District, which is in the final year that administrators have said the budget would stand up on its own before another referendum or cuts might be necessary.
The city’s budget, therefore, will cost the average homeowner $57 more this year, the school district $85 and the county $17. The state lottery credit, which does not fluctuate based on home value, is up $213.24 this year from last year’s credit of $186.25, but garbage fees are up to $174.40 from $167 in previous years.
The amount taxes increase could vary depending on individual property assessments.
Each home in the city of Stoughton is reassessed annually to keep assessments close to market rates, Accurate Appraisal owner Jim Danielson told the Hub last year.
Accurate does “walk-through” on-site assessments of 20 percent of properties each year for five years. The rest are adjusted through computer modeling and sales of comparable homes, Danielson told the Hub, “to maintain 100% market value assessments.”
Municipalities in the Dane County area have a variety of methods of keeping assessments within 10 percent of market rate, as the state requires. Some reassess every few years, only after exceeding this number, and others reassess areas based on market variances.
Tax bills are required by state law to be mailed by Dec. 16. The first installment of payment is due Jan. 31, 2020, but many homeowners pay all or part of the bill before the end of the year to count it toward their 2019 taxes.
To see your tax information online, visit the public access portal of AccessDane at accessdane.co.wi.us.